How is zakah calculated for trade goods?
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The fourth question of the fatwa number ( 5395 )
Q4: Is the zakah on trade goods assessed based on the purchase price, or based on the current market price when the zakah becomes due? And is the lunar year (hawl) counted from when the nisab is reached, or from when the wealth was first gathered? For example,
if a man gathers wealth below the nisab, and then the nisab is reached as the completion of the year approaches, does he pay zakah when a year has passed since he started gathering it, or does he start a new year from the time the nisab was reached?
A4: The lunar year begins from the day the nisab is reached, not from the day the Muslim possessed cash or trade goods below the nisab. So in the example you mentioned, the year does not begin from the day he started gathering, but the year begins from the day the nisab was reached. The value of trade goods for zakah is considered on the day the lunar year completes over them. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Q4: Is the zakah on trade goods assessed based on the purchase price, or based on the current market price when the zakah becomes due? And is the lunar year (hawl) counted from when the nisab is reached, or from when the wealth was first gathered? For example,
if a man gathers wealth below the nisab, and then the nisab is reached as the completion of the year approaches, does he pay zakah when a year has passed since he started gathering it, or does he start a new year from the time the nisab was reached?
A4: The lunar year begins from the day the nisab is reached, not from the day the Muslim possessed cash or trade goods below the nisab. So in the example you mentioned, the year does not begin from the day he started gathering, but the year begins from the day the nisab was reached. The value of trade goods for zakah is considered on the day the lunar year completes over them. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.